Deal insures liabilities for 277 members of the flavour and fragrance manufacturer scheme
Insurers are being pressed to offer bulk annuities to a wider range of scheme sizes
Bulk annuity deal covers pension benefits for 390 new retirees since a previous deal in April 2019
Bulk annuity transaction insures more than 80 members and prepares scheme for buyout
Professional Pensions is holding a webinar, Pension Risk Transfer Solution: Tranches versus Big Bang, in partnership with Pension Insurance Corporation (PIC).
Global travel firm Tui has agreed two buy-ins worth a total of £794m with Legal & General (L&G) Assurance Society, insuring two sections of the Tui Group UK Pension Trust.
A Pfizer Group-sponsored defined benefit (DB) pension scheme has completed a £190m buy-in with Aviva, following a slow start to the year in bulk annuity business for the insurer.
The Allied Irish Bank (AIB) Group UK Pension Scheme has agreed a pensioner and deferred buy-in with Legal & General (L&G), converting an assured payment policy (APP).
The majority of sub-£250m schemes plan to achieve a buyout as their scheme’s endgame even if pricing opportunities are not necessarily in their favour, Mercer research finds.
Legal & General (L&G) has completed a £55m full scheme buy-in with the Chartered Insurance Institute (CII) Pension Scheme.